BEIJING, Jan. 13 (Xinhua) -- After completing the relegation task, the prospect of Guangzhou city team, especially the process of stock reform, has not been as smooth as predicted, according to soccer reporter Wang Wei, the team stock reform back to the initial stage, if the breakthrough still can not be achieved by Jan. 31, to complete the relevant procedures, Guangzhou will lose the last Chinese Super League (CSL) team.
Previously, Shanghai Shenhua's shareholding reform was basically completed successfully, Shanghai Jiuzhi Group took ownership of the veteran team, and the issue of players' historical salary arrears was basically resolved. But in contrast, Guangzhou City team's share reform has not yet made a breakthrough.
On December 21 last year, the CFA issued a notice requiring clubs in the three tiers of professional leagues to resolve all historical wage arrears by December 31, 2022. At the same time, the authorized person for the clubs to settle the arrears should submit the latest repayment vouchers before January 6, 2023. This deadline has now been postponed to January 31st.
According to some Guangzhou City players, the team is on vacation at the end of the season, and the players have yet to receive any notice about centralization and resumption of training. Meanwhile, as of Dec. 31, 2022, about 70 percent of Guangzhou City's star players from last season have expiring contracts, including players such as captain Tang Miao, Jiang Jihong and Li Tixiang. If there is no progress in the share reform, the team will face the situation of having no one available.
Currently, the Guangzhou city team is faced with the problems of dealing with the remaining historical salary arrears, fulfilling the conditions of access, implementation of the first team players, and preparation for winter training, but all this work presupposes sufficient financial support, which should not be provided by investors now, and is close to being exhausted before the state-owned consortium enters the accounts of the music sector.
